Thursday, May 13, 2010

Types of Contracts

  • Fixed Fee or Lump sum Contracts (with provision for change orders)
  • Item Rate Contracts
  • Cost Plus Contracts with GMP
  • Percentage Rate Contracts with Guaranteed Maximum Price (GMP) 
  • Contract between a Govt body and a private organizations is called PPP or Public Private Partnership.
  • Supply and Erection Contracts